Reference is made to the stock exchange notifications published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") pertaining to the Comprehensive Refinancing, including the stock exchange notifications published on 16 April 2018 and 19 April 2018.
As part of the Comprehensive Refinancing and the Bond Issue, EMGS has today called, in full, the bond issue described as FRN Electromagnetic Geoservices ASA Senior Unsecured Callable Bond Issue 2013/2016, with ISIN NO 001 0682537 (the "Existing Bond Issue").
The Company's call option exercise notification to the bond trustee is attached to this stock exchange notification, together with a copy of the bond trustee's further notification to the bondholders.
In accordance with the terms of the Existing Bond Issue and the Company's exercise notification, the Existing Bond Issue will be repaid in full by the Company at 103% of par value (plus accrued interest) on 7 June 2018.
For further information, please contact:
Hege Veiseth, CFO, +47 99 21 67 43
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.
EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Villahermosa, Rio de Janeiro and Kuala Lumpur.
For more information, visit www.emgs.com
As part of the Comprehensive Refinancing and the Bond Issue, EMGS has today called, in full, the bond issue described as FRN Electromagnetic Geoservices ASA Senior Unsecured Callable Bond Issue 2013/2016, with ISIN NO 001 0682537 (the "Existing Bond Issue").
The Company's call option exercise notification to the bond trustee is attached to this stock exchange notification, together with a copy of the bond trustee's further notification to the bondholders.
In accordance with the terms of the Existing Bond Issue and the Company's exercise notification, the Existing Bond Issue will be repaid in full by the Company at 103% of par value (plus accrued interest) on 7 June 2018.
For further information, please contact:
Hege Veiseth, CFO, +47 99 21 67 43
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.
EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Villahermosa, Rio de Janeiro and Kuala Lumpur.
For more information, visit www.emgs.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
